Mill City Ventures Raises $450 Million to Invest in SUI Cryptocurrency
Date: 2025-07-28 Author: Gabriel Deangelo Categories: BUSINESS
The company plans to sell 83,025,830 common shares at a price of $5.42 per share. The deal is expected to close on or about July 31, 2025, subject to customary closing conditions. Approximately 98% of the net proceeds will be used to purchase SUI tokens, the native cryptocurrency of the Sui blockchain, which will serve as a key reserve asset in Mill City’s treasury. The remaining 2% of the investment will support the company’s ongoing short-term lending operations.
The deal was led by Karatage Opportunities, a London-based digital asset hedge fund, and the Sui Foundation. Other investors include Galaxy Digital Inc (GLXY), Pantera Capital, Electric Capital, and several other investment firms. Galaxy Asset Management will manage the assets.
After the transaction is completed, Marius Barnett and Stephen McIntosh of Karatage will become Chairman of the Board of Directors and Chief Investment Officer, respectively. An independent member, Dana Wagner, will also join the Board of Directors.
Stephen McIntosh noted that Sui has all the necessary characteristics for wide institutional adoption due to its high speed and efficiency of operation. Mill City intends to acquire SUI tokens both on the open market and through transactions with large investors, including an agreement with the Sui Foundation.
A.G.P./Alliance Global Partners is the sole placement agent. The securities are offered pursuant to an exemption from registration and are not available for public sale in the United States without appropriate approval.
Mill City Ventures III was founded in 2007 and specializes in short-term lending and structured finance solutions. The new strategy with a focus on the SUI cryptocurrency reflects the company's desire to diversify its assets and strengthen its position in the digital finance market.
Investing in cryptocurrencies remains high-risk, and Mill City emphasizes the importance of understanding potential market fluctuations and factors affecting the value of digital assets. However, the company is confident in the prospects of the Sui blockchain and plans to actively expand its crypto position.
This deal is another step for Mill City Ventures towards integrating new financial instruments and strengthening its portfolio in line with modern trends in the digital world.
